Crude oil prices reached their highest level in the past two weeks on Thursday.
Global benchmark Brent crude climbed as much as $48.26 per barrel, while American benchmark West Texas Intermediate (WTI) reached as high as $45.44 a barrel.
Both benchmarks reached their highest respective levels since June 14, according to official data.
Last week, WTI fell to its lowest level in the past 10 months, while Brent crude hit its lowest level in the past 7 months.
The sharp decline in prices last week led to a sudden decrease in the U.S.' crude oil production.
Crude output in the country fell by 100,000 barrels per day (bpd) to 9.25 million bpd for the week, for the week ending June 23, the Energy Information Administration (EIA) data showed Wednesday.
By Ovunc Kutlu in New York